Indian Healthcare Opportunities Un-capped!
In the past 3 months our healthcare systems have been under the national spotlight for reasons galore. The Government has recently announced the new National Health Policy and has also passed the Mental Healthcare Bill. There has been due discourse around the price-capping of stents and moves have been made to ensure that doctors prescribe generic drugs over branded variants. Doctors across cities have even gone on strikes following an outbreak of assaults and accusations. Be that as it may, there are certain facets that contribute to India’s healthcare potential that may as well be etched in stone.
India’s tremendous population demographic is currently facing the brunt of rapid economic growth in the form of increased prevalence of lifestyle diseases. This economic growth has also however bestowed the people with increased disposable income. Keeping these at the forefront of thought, we fundamentally believe there is significant opportunity to be leveraged.
Our healthcare ecosystem is at a critical juncture, with increasing emphasis on building last mile access, universal health coverage, manufacturing export-quality pharmaceuticals, driving growth through cutting edge R&D, and at the same time leveraging technology as an enabler across the value chain. Yet, there exist figurative speed breakers including dearth of qualified talent, lack of sound infrastructure and enabling policies for the landscape to sustain and flourish. We hence decided to deep dive into the topic as our focus for the edition.
To encapsulate the nuances of this edition’s theme, we have identified 4 key pillars that would further shed light on India’s healthcare ecosystem – Affordability, Accessibility, Awareness, Availability. The editorial team accordingly reached out to the Indian Government, Indian business leaders across healthcare services, pharmaceuticals, medical devices, clinical research, private equity, health insurance and think tanks among others for their 360 degree views and insights.
This edition presents interviews and articles from C K Mishra, Secretary, Ministry of Health and Family Welfare; Milan Rao, President & CEO, GE Healthcare, India & South Asia; Sushobhan Dasgupta, Managing Director, Johnson & Johnson Medical India & Vice President-Orthopedics J&J Asia; Suneeta Reddy, Managing Director, Apollo Hospitals Enterprise; Bhavdeep Singh, CEO, Fortis Healthcare; Kedar Upadhye, Global CFO, Cipla and many other industry leaders.
We have also featured some interesting reports on the Life Sciences industry of Gujarat, the opportunities present in Indian Biotechnology, as well as, the profiles of potentially game – changing startups in the Health-Tech space. We trust this would be an engrossing read.
All in all, through this edition, we hope to present our readers a comprehensive understanding of the country’s healthcare ecosystem and its stakeholders across sectors in order to determine the innovations required for leveraging opportunities. I hope you will enjoy reading this special edition as much as we did in putting it together.
Editor, CFO Insights
Senior President, Corporate Marketing, Strategy & Communications, YES BANK